Tutor Answer

Overall Global Consumption of Liquid Natural Gas (LNG) and international average
price of LNG
A. Current Global LNG import and export prices by countries

II.

Countries importing LGN
A. LNG Prices Paid by Each Country
B. List of Purchasing Countries by GDP
C. Major Industries of Each Country
D. Industrial Consumption of LNG per Country
E. Annual Consumption Capacity
F. Country Capacity for LNG Storage

III.

Countries with Embargoes on Exporting LNG to and from the United States

IV.

Countries with Importation Ban on LNG from the U.S

V.

Cultural and Governmental View of Asian Countries on the Use and Consumption of
LNG vs. Renewable Energy

VI.

Cultural and Governmental View of Western European Countries on the Use and
Consumption of LNG vs. Renewable Energy

VII.

Cultural and Governmental View of Eastern European Countries on the Use and
Consumption of LNG vs. Renewable Energy

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VIII.

Cultural and Governmental View of Latin American Countries on the Use and
Consumption of LNG vs. Renewable Energy

IX.

Cultural and Governmental View of African Countries on the Use and Consumption of
LNG vs. Renewable Energy

Running head: COUNTRY-SPECIFIC DATA ON LNG EXPORT

Country-Specific Data on LNG Export
Name
Institution

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COUNTRY-SPECIFIC DATA ON LNG EXPORT

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Country-Specific Data on LNG Export
Overall Global Consumption of Liquid Natural Gas (LNG)
Liquefied natural gas (LNG) is the world’s leading energy source and remains its most
consumed primary one. This high rate of consumption is expected to continue as producing
nations continue to exploit their abundant natural resources while enhanced production capacity
remains a key driver of the competitiveness of this energy sources among other resources. As the
main fuel components for electricity generation and industrial production, it is projected that the
global consumption will reach about 203 trillion cubic feet (tcf) by the 2040 (IEA, 2016). In its
2016 World Gas LNG Report, the International Gas Union (IGU) stated the total LNG trade for
2015 peaked at 244.8 MT, which represents an increase from the 240 MT recorded for 2014.
According to the authors of the report the surge in the overall global consumption of LNG for the
year is the largest in the history of the industry and caused by the implementation of new projects
in Australia and Indonesia (IGU, 2016).
Regarding the average international prices of LNG, the IGU noted that several factors
including the fall in oil prices and lower demand by Pacific consumers caused global LNG prices
to fall from an average price of $15.60/MMBtu in 2014 to $9.77 $9.77/MMBtu in 2015. IGU
(2016) reported that the 78% fall in the Japanese import prices that is directly dependent on oil
prices between January and December 2015 is the major reason for this reduction. The report
also showed that “Northeast Asian spot prices also dropped sharply, which led the differential
between the Pacific and Atlantic Basins to narrow to an average $1.32/MMBtu throughout the
year, down from the average $6.80/MMBtu differential in 2014. As a result of this price signal,
Atlantic to Pacific basin trade declined” (IGU, 2016).

COUNTRY-SPECIFIC DATA ON LNG EXPORT

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Current Global LNG Import and Export Prices by Countries
Richter & Holz (2015) explained that the total number of LNG exporting countries in
2015 was 17, which was a decrease from the 19 that exported the product to consumers across
the world in 2014. They noted that the suspension of production in Angola so as to repair its
major production facilities and the loss of feedstock in Egypt meant that these LNG exporters
were unable to meet the supply obligations. The table below represents LNG exports prices and
market share by country for 2015
S/N

Country

Percentage of Global Export

Percentage of Global Market

Prices

Share

1

Qatar,

77.8

31.8

2

Australia

29.4

12

3

Malaysia

25

10.2

4

Nigeria

20.4

8.3

5

Indonesia

16.1

6.6

6

Trinidad

12.5

5.1

7

Algeria

12.1

5

8

Russia

10.9

4.5

9

Oman

7.8

3.2

10

PNG

7

2.9

11

Brunei

6.6

2.7

12

UAE

5.6

2.3

13

Norway

4.2

1.7

COUNTRY-SPECIFIC DATA ON LNG EXPORT

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14

Equatorial Guinea

3.8

1.6

15

Peru

3.7

1.5

16

Yemen

1.5

0.6

17

United States

0.3

0.1

Table 1: LNG Exports Prices and Market Share by Country. Data Source: IGU World Gas LNG
Report — 2016 Edition. Retrieved from http://www.igu.org/download/file/fid/2123
IGU (2016) noted in their report that the reduction in the number of exporting nations had
minimal impact on the consuming ...